BNB ETF?! 🤑 Crypto Goes Mainstream?

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So, VanEck, bless their hearts, has registered a Binance Coin (BNB) exchange-traded fund in Delaware. Delaware! It sounds like the punchline to a very boring joke. This is their fifth crypto ETF registration, which means they’re either geniuses or just really, really bad at saying “no” to new ideas. It’s like that drawer in your kitchen filled with takeout menus and rubber bands – just a chaotic mess of possibilities. 🤷‍♀️ Apparently, big financial institutions are still betting on digital assets, even though the market is about as stable as a toddler on roller skates.

BNB Joins VanEck’s Crypto ETF Lineup

According to the thrilling public records on Delaware’s website (I know, try to contain your excitement), VanEck registered this new “product” on Monday. A “product.” It sounds like they’re selling vacuum cleaners. The “VanEck BNB ETF” – catchy, right? – was registered as a trust corporate service company, whatever that is. They did the same thing for Bitcoin, Ethereum, Solana, and Avalanche ETFs. It’s like they’re collecting them all like Pokémon cards, except instead of Pikachu, you get… Avalanche. I’m not sure who wins in that scenario.

The New York-based company confirmed the BNB ETF will track the price of Binance Coin, currently ranked as the fifth-largest cryptocurrency with a market value of… well, a lot. On-chain data showed BNB’s trading volume jumped 40% after the announcement. Which means absolutely nothing to me, but I’m told it’s good. It’s probably good. Like finding a twenty in your old winter coat.

First BNB ETF Attempt In US Markets

This is apparently the first time anyone’s tried to create a Binance Coin ETF specifically for us Americans. We’re so special! Other BNB-related things exist elsewhere, but, naturally, we need our own version. Like we needed another reason to feel superior. The 21Shares product remains the only exchange-traded note tracking the Binance Coin index. So, if you’re into exchange-traded notes, you know where to go. I’ll be over here trying to figure out what an exchange-traded note actually is. 🤔

JUST IN: VanEck Registers Entity for Potential First BNB ETF in the U.S.

VanEck has filed in Delaware to register an entity, hinting at plans for the first-ever BNB ETF in the U.S. market. The move marks a significant step towards expanding the accessibility of Binance Coin…

— Crypto Town Hall (@Crypto_TownHall) April 2, 2025

This all follows VanEck’s successful launches of Bitcoin and Ethereum ETFs last year, after getting the SEC’s blessing. The company manages nearly $115 billion. Which, let’s be honest, is more money than I can even fathom. I can barely manage my grocery budget.

Crypto ETF Race Heats Up

“VanEck seems to be taking a ‘throw everything at the wall and see what sticks’ approach, which makes sense,” said some ETF analyst. “Avalanche isn’t the most widely traded cryptocurrency, but being first to market with an ETF in a new category comes with potential upside and little downside.” So, basically, they’re just winging it. Which is comforting, isn’t it? 😅

Apparently, this all comes just weeks after VanEck applied for SEC approval to launch the first AVAX ETF. I’m picturing a room full of people throwing darts at a board covered in cryptocurrency names. I bet Dogecoin is on there somewhere.

VanEck isn’t alone in this crypto ETF gold rush. Grayscale has also applied to launch funds based on XRP, Solana, and Dogecoin. Dogecoin! It’s the cryptocurrency equivalent of a participation trophy. The firm’s Bitcoin fund currently manages nearly $17 billion. All this money floating around and I’m still clipping coupons. 🙄

Crypto ETFs Gaining Momentum

The surge in ETF applications follows the strong performance of spot Bitcoin and Ethereum funds in 2023. Crypto-based exchange-traded products have drawn approximately $44 billion in assets during 2024 alone. I’m starting to feel like I’m missing out on something. Maybe I should invest in Dogecoin after all?

Even NASDAQ is getting in on the action. They submitted an application to the SEC to list shares of an Avalanche ETF issued by Grayscale. Apparently, Grayscale’s AVAX fund would use Coinbase Custody as its custodian. Which sounds… secure? I don’t know. I’m just a humble narrator trying to make sense of all this madness.

VanEck’s latest move with BNB suggests major financial institutions see growing investor appetite for regulated cryptocurrency investment vehicles beyond just Bitcoin. The company filed for a Solana ETF in June 2024, making it the first potential SOL exchange-traded fund in the US. Because we need more options. I can barely decide what to have for breakfast.

To gain official approval, VanEck must now file a formal S-1 form with the SEC for these newly registered crypto ETFs. An S-1 form! My heart is racing with excitement! 🤩 Just kidding. I’m going to go take a nap.

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2025-04-03 11:16